Basic legal tips for shareholders

25/09/2012

Do shareholders have to meet in order to make a decision ? Subject to certain exceptions, the answer is no, as long as the correct procedure under the Companies Act 2006 is followed. The exceptions to this rule include some major decisions such as removing a director and such a decision has to be made READ MORE

Insolvency related legal tips including company administration

25/09/2012

When is a company considered insolvent ? This is not an easy question to answer.  However, the law states that a company is insolvent when it can no longer afford to pay its debts or when the company’s total liabilities are greater than its assets. It is important to keep accurate recordings in order to READ MORE

Online businesses – what laws apply to virtual business ?

25/09/2012

What law applies to virtual businesses ? Many laws that apply to traditional “bricks and mortar” businesses also apply to virtual businesses.  Virtual businesses are still expected to comply with basic contract law and where there is any divergence statutory law will step in and invalidate any unfair contractual terms. However, virtual businesses are subject READ MORE

Setting up a limited company – the practicalities

19/09/2012

Deciding to start a business is both a daunting and exciting prospect. It is important to ensure that the business structure that you choose is the correct one for you and your business. Aside from the fundamental decision about whether to limit personal liability, which is clearly a key reason to opt for a limited READ MORE

Minority shareholders – what they need to know

11/09/2012

Minority shareholders and company law Minority shareholders can generally be outvoted by the majority in relation to important decisions of a company and can therefore suffer prejudice. Much however depends on whether actions have been taken to deliberately prejudice the minority shareholder or shareholders as against the legitimate power and influence which can be used READ MORE

Waiver – an important legal principle explained

06/09/2012

What does waiver mean in contract law? Waiver can be defined as a voluntary relinquishment of legal rights that a person or organisation would normally have if the waiver did not exists.  Although waiver is commonly referred to in contract law and particularly is a concept often related to breach of contract, it is a READ MORE

Legal aspects of a family owned business

01/09/2012

Many owner run SME’s are family owned and managed businesses. Whilst in the first generation this can often work well, as the ownership of the company is passed through to the next generation problems often occur. The lines between family and business can become blurred and relationships strained. Many family businesses grow organically over the READ MORE

Disqualification of company directors

31/08/2012

The Courts have the power to disqualify a director under the Company Directors Disqualification Act 1986. This applies to individuals who are formally appointed as directors at Companies House, but also to shadow directors who are not formally appointed but act and/or carry out the functions of a director in any event. Risk factors for READ MORE

Exclusivity Agreements – advantages and risks

31/08/2012

 What is an Exclusivity Agreement? An exclusivity agreement, also known as a lock-out agreement, is an agreement between parties which provides for certain restrictions on either or both for exclusivity in terms of  supply of goods, services or other dealings, sometimes for a stipulated time period,  to any other parties other than on the terms READ MORE

Bribery Act advice, policies & procedures

08/08/2012

Since the introduction of the Bribery Act 2010 (Bribery Act) which came into force in July 2011 a number of our clients have contacted us to ask whether or not they need to concern themselves with this and whether they need any policies in place. The answer to both of these questions is yes. The READ MORE